When inflation causes the market value of assets to rise above ________, it is illegal to revise their value _____ in the _____.

When inflation causes the market value of assets to rise above ________, it is illegal to revise their value _____ in the _____.



A. current cost; downward; U.S.
B. historical cost; upward; U.S.
C. current cost; upward; U.K.
D. historical cost; downward; U.K.


Answer: B. historical cost; upward; U.S.


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